China's Public Charging Piles for New Energy Automobiles Increased by 51% in 2017

Release time：2018-01-31Click times：710

According
to the Xinhua News Agency quoted by Reuters, China's Ministry of Industry and
Information Technology - Miao Wei said that as of the end of last year, a total
of 214,000 public charging piles have been built nationwide, achieving a
year-on-year growth of 51% and maintaining the largest ownership in the world.
Ratio of newly installed private charging piles has exceeded 80%.

However, Miao Wei also
pointed out that as the number of new energy automobiles continued to grow, the
issue of insufficient structural supply of charging infrastructure had become
increasingly prominent with the overall scale still lagging. The number of
public charging piles to be constructed in 2020 will top up about 500,000
units, but it still does not match with the development scale of new energy
automobiles in the same period. On the other hand, the distribution of charging
facilities is not reasonable enough, considering that the utilization rate of
public charging piles is less than 15%. As a result, a sustainable business
development mode has not yet been formed due to two-way contradictions such as
the contradiction between the weak profitability of operating companies and the
high charging prices borne by consumers.

It is reported that China manufactured
794,000 new energy automobiles in 2017 and sold 777,000, where the latter
accounted for 2.7% of the total output of automobiles, ranking first in the
world for three consecutive years. The ratio of sales of new energy passenger
cars in last year was close to 75% amid the rapid rising of consumer car
market.

By 2020, it is expected that
China will produce and sell new energy automobiles at a rate of 2 million
vehicles per year. According to China Association of Automobile Manufacturers,
it is estimated that the sales of new energy automobiles will grow by about 40%
this year. New energy automobiles include hybrid and pure electric automobiles.

China's Ministry of Finance said in December last year
that extending the preferential policies for the purchase of new energy
automobiles to 2020 will push the development of manufacturers of hybrid and
electric automobiles.